Civic Intelligence

Veritas Classical Academy

990 • Fiscal year 2014 • EIN 46-2170232

Jan 01, 2014 to Dec 31, 2014 • Filed on Oct 15, 2015

Organization ProfileWWW.VERITASCLASSICALACADEMY.ORG
PO Box 5344Beaumont, TX 77726

(409) 225-9107

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

55th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2014 filings • 501(c)3 • <$500k nonprofits • Source year 2014

Liabilities / Revenue

55th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2014 filings • 501(c)3 • <$500k nonprofits • Source year 2014

Net Margin

52nd percentile

4.0%

Higher net margin than 52% of similar nonprofits.

2014 filings • 501(c)3 • <$500k nonprofits • Source year 2014

Top Officer Pay

87th percentile

$34,082

Higher top officer pay than 87% of similar nonprofits.

Top officer pay equals 14.2% of source-year revenue.

2014 filings • 501(c)3 • <$500k nonprofits • Source year 2014

Asset Growth

81st percentile

40%

Faster asset growth than 81% of similar nonprofits.

2014 filings • 501(c)3 • <$500k nonprofits • Annualized from 2013 to 2014

Revenue Growth

92nd percentile

94%

Faster revenue growth than 92% of similar nonprofits.

2014 filings • 501(c)3 • <$500k nonprofits • Annualized from 2013 to 2014

Balance Sheet
Liabilities / Assets55th percentile

Assets

Up

$33,615

Up $9,613 (+40%) from 2013

Net Assets

Up

$33,615

Up $9,613 (+40%) from 2013

Liabilities

Flat

$0

Flat from 2013

Revenue And Expenses
Liabilities / Revenue55th percentileNet Margin52nd percentile

Revenue

Up

$240,091

Up $116,334 (+94%) from 2013

Expenses

Up

$230,478

Up $130,723 (+131%) from 2013

Net Income

Down

$9,613

Down $14,389 (-60%) from 2013

Historical Trend

Balance Sheet Trend

Asset Growth81st percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$600K$400K$200K$0Assets 2013: $24,002Liabilities 2013: $0Net Assets 2013: $24,0022013Assets 2014: $33,615Liabilities 2014: $0Net Assets 2014: $33,6152014Assets 2015: $50,267Liabilities 2015: $5,553Net Assets 2015: $44,7142015Assets 2016: $205,553Liabilities 2016: $2,972Net Assets 2016: $202,5812016Assets 2017: $287,794Liabilities 2017: $9,029Net Assets 2017: $278,7652017Assets 2018: $280,451Liabilities 2018: $11,328Net Assets 2018: $269,1232018Assets 2019: $234,510Liabilities 2019: $6,753Net Assets 2019: $227,7572019Assets 2020: $292,099Liabilities 2020: $10,340Net Assets 2020: $281,7592020Assets 2021: $381,588Liabilities 2021: $9,503Net Assets 2021: $372,0852021Assets 2022: $442,793Liabilities 2022: $12,138Net Assets 2022: $430,6552022Assets 2023: $448,805Liabilities 2023: $12,059Net Assets 2023: $436,7462023Assets 2024: $522,673Liabilities 2024: $7,195Net Assets 2024: $515,4782024

Highlighted filing

2014

Assets$33,615
Liabilities$0
Net Assets$33,615
Open 2014 Filing

Operations Trend

Revenue Growth92nd percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.5M$1.0M$500K$0-$500KRevenue 2013: $123,757Expenses 2013: $99,755Net Income 2013: $24,0022013Revenue 2014: $240,091Expenses 2014: $230,478Net Income 2014: $9,6132014Revenue 2015: $414,775Expenses 2015: $403,676Net Income 2015: $11,0992015Revenue 2016: $634,753Expenses 2016: $476,235Net Income 2016: $158,5182016Revenue 2017: $650,923Expenses 2017: $578,493Net Income 2017: $72,4302017Revenue 2018: $656,349Expenses 2018: $662,646Net Income 2018: -$6,2972018Revenue 2019: $873,993Expenses 2019: $921,902Net Income 2019: -$47,9092019Revenue 2020: $983,528Expenses 2020: $933,734Net Income 2020: $49,7942020Revenue 2021: $975,611Expenses 2021: $888,314Net Income 2021: $87,2972021Revenue 2022: $957,905Expenses 2022: $892,199Net Income 2022: $65,7062022Revenue 2023: $963,893Expenses 2023: $960,229Net Income 2023: $3,6642023Revenue 2024: $1,179,667Expenses 2024: $1,100,504Net Income 2024: $79,1632024

Highlighted filing

2014

Revenue$240,091
Expenses$230,478
Net Income$9,613
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Oct 15, 2015
Return Version
2014v5.0
Gross Receipts
$240,091
Mission and Program Overview

Mission

We aim to partner with families to fulfill the calling to educate our children. We aim to graduate young men and women who listen carefully, reason soundly, and articulate precisely. We aim to have students master a core body of knowledge and possess a life-long passion for learning. We desire them to lead and serve with humility, gratitude, and grace. We aim to encourage them to engage and shape the culture with the truth of the gospel and to evaluate all human knowledge and experience in light of the scriptures.

Veritas classical academy seeks to partner with families by providing a distinctive christian education, utilizing classical methodology and content, with a university-type schedule. On-campus classes meet two days per week, with at-home learning occurring on alternating days. Veritas classical academy offers classes for pre-k through 7th grade and will add additional grades each year until reaching 12th grade.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$24,002$33,615▲ $9,613
Total Assets$24,002$33,615▲ $9,613
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Unrestricted Net Assets$24,002$33,615▲ $9,613
Total Net Assets Fund Balance$24,002$33,615▲ $9,613
Total Liabilities and Net Assets / Fund Balance$24,002$33,615▲ $9,613
Compensation and Service Providers
Top Officer Pay87th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Aaron LaengerHead of SchoolFT$34,082$34,082

Board Members and Trustees

NameTitle
Tom OwensChairman of the Board
Lindy MerrillVice President
Sarah OwensSecretary
Lauren CavettTreasurer
Joshua CavettVoting Member
Lucy MerrillVoting Member
Revenue and Support

Revenue Composition

Contributions and Grants
$105,757
Program Service Revenue
$134,334
Investment Income
$0
Other Revenue
$0
All Other Contributions
$105,757
Change in Net Assets
$9,613
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$170,279
Other Expenses$60,199
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$113,414$41,409-$154,823
Payroll Taxes$11,283$4,173-$15,456
Advertising-$10,214-$10,214
Office Expenses$6,158--$6,158
Insurance-$5,189-$5,189
Information Technology$4,821--$4,821
Occupancy-$3,888-$3,888
Fees for Services Other-$3,728-$3,728
Fees for Services Accounting-$2,535-$2,535
Travel$2,509--$2,509
Other Expenses$7,692$1,267-$1,267
Total Functional Expenses$156,325$74,153$0$230,478
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

“Lindy and lucy merrill are married; and, joshua and lauren cavett are married.”

Form 990, Part VI, Section A, Line 8B

“No committees exist that act on behalf of the governing body other than the board of directors.”

Form 990, Part VI, Section B, Line 11

“A copy of the entire form 990 will be provided to an officer on the board. The officers of the board of directors will review and approve the form 990 prior to it being filed.”

Form 990, Part VI, Section C, Line 19

“The organization will make its governing documents, conflict of interest policy and/or financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Veritas Classical Academy
EIN
46-2170232
Phone
4092259107
Address
PO BOX 5344, BEAUMONT, TX 77726

Signing Officer

Name
Lauren Cavett
Title
Treasurer
Phone
4093515038
Signed
2015-10-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Lauren Cavett
Formed
2013
Legal Domicile
TX
Voting Board Members
6
Independent Board Members
0
Employees
14
Volunteers
4

Preparer

Firm
Cavett Turner & Wyble Llp
Address
PO BOX 2032, BEAUMONT, TX 77704
Preparer
Clifford W Cavett CPA
Phone
4098980070
Raw XML Appendix340 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/ActivityOrMissionDesc0VERITAS CLASSICAL ACADEMY SEEKS TO PARTNER WITH FAMILIES BY PROVIDING A DISTINCTIVE CHRISTIAN EDUCATION, UTILIZING CLASSICAL METHODOLOGY AND CONTENT, WITH A UNIVERSITY-TYPE SCHEDULE. ON-CAMPUS CLASSES MEET TWO DAYS PER WEEK, WITH AT-HOME LEARNING OCCURRING ON ALTERNATING DAYS. VERITAS CLASSICAL ACADEMY OFFERS CLASSES FOR PRE-K THROUGH 7TH GRADE AND WILL ADD ADDITIONAL GRADES EACH YEAR UNTIL REACHING 12TH GRADE.
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IRS990/Form990PartVIISectionAGrp/TitleTxt1VOTING MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt2VOTING MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt3CHAIRMAN OF THE BOARD
IRS990/Form990PartVIISectionAGrp/TitleTxt4VICE PRESIDENT
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IRS990/MissionDesc0WE AIM TO PARTNER WITH FAMILIES TO FULFILL THE CALLING TO EDUCATE OUR CHILDREN. WE AIM TO GRADUATE YOUNG MEN AND WOMEN WHO LISTEN CAREFULLY, REASON SOUNDLY, AND ARTICULATE PRECISELY. WE AIM TO HAVE STUDENTS MASTER A CORE BODY OF KNOWLEDGE AND POSSESS A LIFE-LONG PASSION FOR LEARNING. WE DESIRE THEM TO LEAD AND SERVE WITH HUMILITY, GRATITUDE, AND GRACE. WE AIM TO ENCOURAGE THEM TO ENGAGE AND SHAPE THE CULTURE WITH THE TRUTH OF THE GOSPEL AND TO EVALUATE ALL HUMAN KNOWLEDGE AND EXPERIENCE IN LIGHT OF THE SCRIPTURES.
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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0VERITAS CLASSICAL ACADEMY ADMITS STUDENTS OF ANY RACE, COLOR, NATIONAL AND ETHNIC ORIGIN TO ALL THE RIGHTS, PRIVILEGES, PROGRAMS AND ACTIVITIES GENERALLY ACCORDED OR MADE AVAILABLE TO STUDENTS AT THE SCHOOL. VERITAS CLASSICAL ACADEMY DOES NOT DISCRIMINATE ON THE BASIS OF RACE, COLOR, OR ETHNIC ORIGIN IN ADMINISTRATION OF EDUCATIONAL POLICIES, ADMISSIONS POLICIES, FINANCIAL POLICIES, AND ATHLETIC AND OTHER SCHOOL-ADMINISTERED PROGRAMS. THE ORGANIZATION PUBLISHES ITS RACIALLY NONDISCRIMINATORY POLICY THROUGH ITS WEBSITE.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, PART I, LINE 3
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IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0LINDY AND LUCY MERRILL ARE MARRIED; AND, JOSHUA AND LAUREN CAVETT ARE MARRIED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1NO COMMITTEES EXIST THAT ACT ON BEHALF OF THE GOVERNING BODY OTHER THAN THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2A COPY OF THE ENTIRE FORM 990 WILL BE PROVIDED TO AN OFFICER ON THE BOARD. THE OFFICERS OF THE BOARD OF DIRECTORS WILL REVIEW AND APPROVE THE FORM 990 PRIOR TO IT BEING FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION WILL MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND/OR FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
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IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt024002
IRS990/TotalAssetsEOYAmt033615
IRS990/TotalAssetsGrp/BOYAmt024002
IRS990/TotalAssetsGrp/EOYAmt033615
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0105757
IRS990/TotalEmployeeCnt014
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt074153
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0156325
IRS990/TotalFunctionalExpensesGrp/TotalAmt0230478
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt00
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IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt024002
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt033615
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0156325
IRS990/TotalProgramServiceRevenueAmt0134334
IRS990/TotalReportableCompFromOrgAmt034082
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0134334
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0240091
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt04
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt024002
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt033615
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt02509
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IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt024002
IRS990/UnrestrictedNetAssetsGrp/EOYAmt033615
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt06095 NATCHEZ TRACE
IRS990/USAddress/CityNm0BEAUMONT
IRS990/USAddress/StateAbbreviationCd0TX
IRS990/USAddress/ZIPCd077706
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0HTTP://WWW.VERITASCLASSICALACADEMY.ORG/
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02016-02-25 16:41:14Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0LAUREN CAVETT
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum04093515038
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-10-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0VERITAS CLASSICAL ACADEMY
ReturnHeader/Filer/BusinessNameControlTxt0VERI
ReturnHeader/Filer/EIN0462170232
ReturnHeader/Filer/PhoneNum04092259107
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 5344
ReturnHeader/Filer/USAddress/CityNm0BEAUMONT
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TX
ReturnHeader/Filer/USAddress/ZIPCd077726
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0760473687
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CAVETT TURNER & WYBLE LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 2032
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0BEAUMONT
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TX
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd077704
ReturnHeader/PreparerPersonGrp/PhoneNum04098980070
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0CLIFFORD W CAVETT CPA
ReturnHeader/ReturnTs02015-10-23T08:04:05-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02014-01-01
ReturnHeader/TaxPeriodEndDt02014-12-31
ReturnHeader/TaxYr02014

Document Assets

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Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$33,615
Liabilities
$0
Net assets
$33,615
Revenue
$240,091
Expenses
$230,478
Net income
$9,613
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.52$0.01$0.52$1.18$1.10$0.08
2023Detailed filing. Detailed filing data is available for this year.$0.45$0.01$0.44$0.96$0.96$0.00
2022Detailed filing. Detailed filing data is available for this year.$0.44$0.01$0.43$0.96$0.89$0.07
2021Detailed filing. Detailed filing data is available for this year.$0.38$0.01$0.37$0.98$0.89$0.09
2020Detailed filing. Detailed filing data is available for this year.$0.29$0.01$0.28$0.98$0.93$0.05
2019Detailed filing. Detailed filing data is available for this year.$0.23$0.01$0.23$0.87$0.92$0.05
2018Detailed filing. Detailed filing data is available for this year.$0.28$0.01$0.27$0.66$0.66$0.01
2017Detailed filing. Detailed filing data is available for this year.$0.29$0.01$0.28$0.65$0.58$0.07
2016Summary only. Only limited summary data is available for this year.$0.21$0.00$0.20$0.63$0.48$0.16
2015Detailed filing. Detailed filing data is available for this year.$0.05$0.01$0.04$0.41$0.40$0.01
2014Detailed filing. Detailed filing data is available for this year.$0.03$0.00$0.03$0.24$0.23$0.01
2013Detailed filing. Detailed filing data is available for this year.$0.02$0.00$0.02$0.12$0.10$0.02